13.46KV on HV side, (2.5% VD) tapped at -5%, make ratio 13.14KV/480 = 27.38. So, 13.46KV/27.38 = 491.7V on LV transformer terminals. If I use 3% VD to the load from the LV transformer terminals I get 477.4V. But not going to say my math is perfect, kind of did it quickly. I think the difference between 478.4V versus 477.4V I'd say your understanding the process.
The question regarding LV vs OCPD location. I would always try to adjust the voltage at the OCPD location close to 480V. But you need to physically measure at no-load, and make sure you are not exceeding 10% overvoltage. Not usually a problem, but does need to be checked.